Critical Resources discovers ‘major’ LCT pegmatite system at Mavis Lake

Critical Resources (ASX:CRR) has discovered 31 lithium-caesium-tantalum pegmatites at its Mavis Lake Project in Ontario, Canada, including multiple spodumene-bearing pegmatites. 

The discoveries highlight the potential of Mavis Lake to yield further lithium discoveries. The results also provide further confirmation of the JORC complaint exploration target that the company announced last week.  

Critical Resources, which has a market capitalisation of $19.55 million, reports the discoveries include a 250m extension to a known spodumene-bearing pegmatite and a 100m extension to the Main Zone spodumene-bearing pegmatite cluster.

The company collected 83 samples from pegmatite outcrops across the broader project area. Samples have been prepared and will be dispatched to an independent analytical laboratory in the coming weeks. Results will be returned between July and August 2024.

The pending assays are expected to inform and support future drilling.

Managing Director Alex Cheeseman says the field work has increased the company’s confidence in its ability to deliver on an exploration target, paving the way for drilling at several targets. 

“We look forward to continuing our dual-track strategy of targeting resource growth, while progressing our project development and permitting workstreams for Mavis Lake,” he says. 

Extensional drilling to the east and south of the main zone, alongside drill testing of the Gullwing pegmatite, remain secondary priorities to occur within the 2024 drilling program. 

The company’s current assessment is that the Tot pegmatite, which contains metacystic spodumene throughout the 50m outcrop surface, presents as the highest priority for immediate follow-up exploration work. 

Critical Resources says this is due to the high-grade and consistent nature of mineralisation uncovered throughout the outcrop. 

A mechanical stripping and channel sampling program is being designed to expose the outcrop’s surface extensions and provide channel sample results for future resource definition drilling. 

Drill permits have been approved, which allows all potential target areas to be tested, alongside stripping and channel sampling permits for immediate testing of Tot. 

Critical Resources expects a stripping and channel sampling program at Tot to begin in early July. 

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Images: Critical Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.